What is the proper method of recording Director's salary in the accounts
director name should be kept under which group (current liablities or any other)
please give me entry's and their ledger grouping
also
can we adjust director account for any other payment from the company to him
Its better to account under Salary a/c (Payroll) No other Director's expense to be routed thor' the same a/c.
Reason: At the end of the year the Form 16 Issued by the firm & TDS Deduted & paid reflected in his AS 26 should not be different one - its always better.
Other Payemnt made him to account relatively viz., Travel,Entertainment,Promotion etc., accordingly.
T R SOOD & CO
New Delhi
CA Inter
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Vardhaman Group of India
Pimpri Chinchwad
CA Inter
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
